62% of Brits overseas say they will never go back to Britain
Some 62% of Britons living overseas vowed never to return to the UK on a permanent basis, according to our new poll.
A total of 11% of respondents said they would consider it, whilst 27% said ‘maybe’.
In addition, despite six out of 10 saying they would never return to the UK, the survey found 70% continue to regularly send money back to Britain, 81% could save more in their overseas destination and 44% moved from the UK predominantly for work/career reasons.
It may come as something of a shock to many that despite the impact of the coronavirus pandemic and increasing economic, social and political tensions in countries across the globe, the so-called ‘pull’ factors of living abroad far exceed those of the UK.
Indeed, Britain’s ‘push’ factors appear to have heightened for many respondents to this survey. These factors typically include worries over a no-deal Brexit, quality of life, crime fears, the scrapping of a number of age-related benefits and the climate.
The poll shows that for the millions of Britons living overseas, of which I am one, it is a highly positive, rewarding and immensely gratifying experience for several reasons. Reasons such as more lucrative career options, higher quality of life, first class childcare and education, lower crime rates and good weather.
Nonetheless, there are a host of reasons to be worried that the majority of respondents said they would never return to the UK.
Of course, we don’t know what will happen in the future. People may be forced to return to Britain due to a change in their personal circumstances.
The worry for those people who presume they will never return to Britain, or anywhere else for that matter, is that they will not have all the available and/or essential financial options open to them should they find they need to go back to the UK, or another location, for a specific reason.
Still, I am certainly encouraged that 81% are able to save more whilst living abroad. It’s important though to make these savings work effectively, for them to utilise their expat status to their financial advantage and consider all available options.
Furthermore, it is largely positive that 70% haven’t cut all financial ties with the UK. In our experience it’s likely that this is for one specific reason, rather than part of an integrated financial planning strategy.
Of course, living internationally is a hugely positive experience, both in terms of lifestyle and career for the majority of people. However, it’s important not to rebuff the possibility of returning to Britain or moving to another location in the future.
A total of 754 people took part in this survey, currently living in Australia, New Zealand, the UAE, Oman, the Philippines, Thailand, Indonesia, China, Hong Kong, Italy, Switzerland, Spain, France, Portugal, Hungary, Germany, Mexico, Russia and Zimbabwe.